Bitcoin price has fallen to $62,081 on November 15, losing approximately 23% from its November 4 high as US political uncertainty, weak technology stocks, ETF withdrawals and heavy liquidatio
Bitcoin price has fallen to $62,081 on November 15, losing approximately 23% from its November 4 high as US political uncertainty, weak technology stocks, ETF withdrawals and heavy liquidations weighed on the cryptocurrency.
SummaryAccording to The Kobeissi Letter, Bitcoin lost roughly $11,000 in three days, while cryptocurrency liquidations surpassed $2 billion during one rolling 24-hour period. The market commentary account estimated that digital assets had shed approximately $800 billion in combined market value since October 6.
Crypto is having an absolutely brutal weekend.Bitcoin is now down -$5,000 today and -$11,000 over the last 3 days, marking one of its steepest drawdowns in months.Selling pressure is accelerating as crypto liquidations officially crossed $2 billion over the last 24 hours.…
— The Kobeissi Letter (@KobeissiLetter) November 14, 2026
Bitcoin price later recovered toward $65,400, according to BTC price data, but remained below $70,000 after Friday’s breakdown. Its decline followed a short-lived recovery above $81,000 immediately after the US midterm elections.
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The November 3 midterm elections handed Democrats control of both the House of Representatives and the Senate, raising concerns about President Donald Trump’s cryptocurrency agenda.
Bitcoin initially dropped toward $75,600 as the results emerged, before recovering above $78,000 and reaching approximately $81,000 on November 4. As crypto.news previously reported, the election results raised questions about legislation intended to establish clearer rules for digital asset markets.
Although the initial selling reversed, uncertainty remained over whether a Democratic-controlled Congress would support Trump’s crypto-friendly policies. The president retains veto power, but Republicans no longer control the congressional agenda.
The market encountered another setback on November 5, when US technology stocks suffered heavy losses. The Nasdaq declined approximately 5.5%, while semiconductor stocks dropped around 12%. Bitcoin price followed the selling, losing 5.5% during the session.
Pressure returned on November 12 after Nvidia announced that CEO Jensen Huang had resigned. Its shares fell 12% at the open, while Bitcoin price slipped below $72,000 as investors continued reducing exposure to technology-related assets.
Inflation figures added another reason for investors to reduce risk. October consumer prices rose 0.4% from September, while core inflation increased 0.3%, both exceeding market expectations.
Coinbase Institutional’s November 13 research said futures markets were pricing 64 basis points of Federal Reserve rate increases over the following year, compared with 37 basis points at the beginning of November.
The research team argued that higher borrowing costs and a stronger dollar were weighing on Bitcoin, particularly after the cryptocurrency failed to recover alongside technology shares.
Institutional fund withdrawals compounded the selling. Farside Investors recorded approximately $1.91 billion in net outflows from US spot Bitcoin ETFs across seven consecutive trading sessions between November 5 and November 13.
The November 9–13 week accounted for $1.065 billion in withdrawals. Friday’s $185.4 million outflow included $143.5 million from BlackRock’s IBIT and $41.9 million from Fidelity’s FBTC.
Selling by corporate Bitcoin holders added pressure. MARA Holdings disclosed the sale of 13,597 BTC for approximately $1.1 billion after the third quarter, using $750 million to repay Bitcoin-backed loans.
The transactions were disclosed in November, although they were not necessarily executed during the latest market decline.
Meanwhile, MSCI confirmed on November 11 that Strategy would be removed from its major equity indexes after the November 30 close. Index-tracking funds may need to sell MSTR shares, although the decision does not require Strategy to sell Bitcoin.
Liquidity conditions were deteriorating as well. Coinbase Institutional estimated that the combined circulating supply of USDT, USDC and DAI had contracted by $11.5 billion over 30 days, its largest recorded decline for those stablecoins.
The research firm recorded an average negative Coinbase premium of 0.13%, indicating that US buyers were paying less for Bitcoin than traders on offshore exchanges.
BitMine Chairman Tom Lee suggested another possible source of selling was the return of customer access to cryptocurrency following Binance’s October hack. He argued that some customers might have converted restored balances into cash, although the amount sold has not been established.
As Bitcoin price broke below $70,000, forced liquidations intensified the decline. CoinGlass data from November 15 showed approximately $1.96 billion in cryptocurrency positions liquidated over 24 hours, with Bitcoin accounting for nearly $750 million.
Around $600 million of Bitcoin’s liquidations involved long positions. Exchanges automatically closed leveraged trades when traders could no longer maintain the collateral required to keep them open.
In a post on X, The Kobeissi Letter reported more than $900 million in liquidations within four hours, adding, “Crypto is in desperate need of a new catalyst.”
Another explanation involved Anthropic’s planned IPO. In his assessment of the crypto crash, Lee suggested investors might be selling cryptocurrency to raise money ahead of the offering. However, the proposed connection remains a theory, with no established figures showing how much Bitcoin investors sold to participate.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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